The construction rates prevailing in the financial year 2024-25 for residential RCC construction and RBC/Tin Shed/Kacha Kavelu in all areas will continue as they are in the financial year 2025-26. This decision was taken in the meeting of the Central Valuation Board on Saturday. All the members of the Central Valuation Board were present in the meeting.
This decision was taken in the meeting chaired by the Central Valuation Board/Inspector General Registration Madhya Pradesh regarding the approval of the proposal of the Guidance Principles of Market Value of Immovable Property under the Madhya Pradesh Market Value Guidance Principles Formation and their Revision Rules-2018 and the approval of the criteria/provisions for fixation of market value in respect of various types of interests in land, building and immovable property.
In another important decision, the Central Valuation Board endorsed the approved proposals of the Market Value Guidance Principles for the year 2025-26 from the District Valuation Committees after considering them. According to the decision, the Market Value Guidance Principles for the year 2025-26 will come into effect from 1 April 2025.
It is noteworthy that in the year 2024-25, keeping in view the newly proposed ring road, national highway, state highway, Pradhan Mantri Sadak, other district roads, rapid urbanization, urban infrastructure being developed in the state, etc., the documents registered at a price higher than the market value, after considering the proposals sent by the district valuation committees, it was decided to rationalize the rates on the basis of the proposed prices.
As per Rule-3 (2) (b) of Madhya Pradesh Market Value Guidance Principles (Making and Revision of the Principles) Rules-2018 by the Central Valuation Board, after considering the criteria/provisions for determination of market value in respect of various types of interests in land, building and immovable property, it was decided to make the present prevailing provisions 2024-25 valid for the financial year 2025-26.
